Safehold (NYSE:SAFE) Sets New 12-Month Low – What’s Next?

Safehold Inc. (NYSE:SAFE)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as $11.57 and last traded at $11.67, with a volume of 138,343 shares trading hands. The stock had previously closed at $11.97.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SAFE shares. Wall Street Zen upgraded shares of Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Citizens Jmp restated a “market perform” rating on shares of Safehold in a report on Wednesday. Zacks Research upgraded Safehold from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. lowered Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 price target for the company. in a research report on Thursday, September 24th. Finally, Weiss Ratings lowered Safehold from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 6th. Two analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Safehold presently has a consensus rating of “Hold” and an average target price of $15.17.

Safehold Trading Up 0.2%

The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. The firm has a market capitalization of $819.60 million, a PE ratio of 7.14, a P/E/G ratio of 3.44 and a beta of 1.78. The stock’s 50-day simple moving average is $13.89 and its 200-day simple moving average is $14.91.

Safehold (NYSE:SAFE) last released its earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $114.65 million during the quarter, compared to analysts’ expectations of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. As a group, sell-side analysts expect that Safehold Inc. will post 1.64 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a $0.1770 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.1%. Safehold’s dividend payout ratio is currently 43.83%.

Insider Activity

In related news, Director Robin Josephs sold 9,500 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total value of $138,320.00. Following the completion of the transaction, the director directly owned 89,068 shares in the company, valued at $1,296,830.08. This trade represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Safehold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its holdings in shares of Safehold by 109.4% during the third quarter. Versant Capital Management Inc now owns 5,635 shares of the company’s stock valued at $66,000 after purchasing an additional 2,944 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Safehold by 32.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company’s stock worth $82,000 after purchasing an additional 1,478 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of Safehold by 20.7% in the 3rd quarter. CoreCap Advisors LLC now owns 7,530 shares of the company’s stock worth $89,000 after buying an additional 1,290 shares during the last quarter. IFM Investors Pty Ltd purchased a new stake in shares of Safehold in the 1st quarter worth approximately $122,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Safehold in the 2nd quarter worth approximately $189,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning ground leases. Through its ground-lease model, the company acquires and owns the land beneath commercial, residential, and other real estate assets while leasing that land to property owners under long-term agreements. This structure allows building owners to access the value of the land without selling the underlying property.

Safehold’s portfolio has included ground leases supporting multifamily, office, hotel, life sciences, industrial, and other commercial properties.